Business news from Ukraine

Business news from Ukraine

UKRAINE WANTS TO STRENGTHEN TRADE WITH EU

Ukraine is ready for negotiations with the European Union to strengthen trade in 2020 and implement new opportunities, Prime Minister of Ukraine Volodymyr Groysman has reported.
“Today, we sell 43% of exports to the EU market. We have free trade area agreements. In 2018 we revised and increased the quotas (for export). There will be an opportunity to revise trade conditions in 2020 and we are working to expand the volume and “horizon” of trade. Every citizen will benefit from this. This is my priority,” Groysman said on the air of the Svoboda Slova program on ICTV.

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VALERIY YEVDOKYMOV APPOINTED DEPUTY HEAD OF UKRAINE’S FOREIGN INTELLIGENCE SERVICE

Ukrainian President Volodymyr Zelensky has appointed Valeriy Yevdokymov Deputy Head of the Foreign Intelligence Service of Ukraine (FIS).
Corresponding decree was made public on the website of the president of Ukraine on Tuesday.
“To appoint Yevdokymov Valeriy Volodymyrovych as deputy head of the Foreign Intelligence Service of Ukraine,” the document says.

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STRUCTURE OF CUSTOMS OFFICES IN UKRAINE WILL BE OPTIMIZED

The structure of customs offices should be optimized, according to Deputy Head of the Office of the President for economic issues Oleksiy Honcharuk has said. “The customs structure should be precisely optimized. Exactly those customs officers who will work there should have normal working conditions,” he said at a press briefing on Tuesday, commenting on statements of the head of the State Customs Service, Maksym Nefyodov, on the intention to reduce the number of custom offices from 26 to five or six.
However, he said that Nefyodov proposed a model for reforming the authority.
“Yes, we see some possibilities for optimizing the number of customs offices. To what number, I think, Max (Nefyodov) himself will also specify these figures when he starts working,” Honcharuk said.

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UTG TO CONDUCT PRESS CONFERENCE “HALF-YEAR RESULTS IN REAL ESTATE MARKET OF UKRAINE 2019”

On Wednesday, July 10, at 10.30, the press center of the Interfax-Ukraine news agency will host a press conference by UTG entitled “Half-Year Results in Real Estate Market of Ukraine 2019: Main Trends and Challenges.” Participants: UTG Director Yevhenia Loktionova, head of the strategic consulting department at UTG Kostiantyn Oliynyk, deputy head of the strategic consulting department at UTG Oksana Havrylevych (8/5a Reitarska Street). Accreditation of journalists by phone: +38 067 216 4343, +38 044 537 2364, or by e-mail: pr@utg.kiev.ua.

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UKRAINE REDUCES SUGAR EXPORTS BY 20%

Ukraine for the ten months of the 2018/2019 marketing year (MY, September-August) exported 403,000 tonnes of sugar, which is 20% less than during the same period of the previous MY, the press service of the Ukrtsukor National Association of Sugar Producers has said. “It is likely that, according to the results of the current marketing year, sugar exports will amount to about 500,000 tonnes. This is 10% less than in the previous MY. The decline in supplies is due to low world sugar prices and an unfavorable market situation,” Ruslana Butylo, the deputy chairman of the association, said.
According to the association, sugar exports in June 2019 decreased by 40% compared with May and amounted to 24,800 tonnes.
“Azerbaijan remained the main importer of Ukrainian sugar in June, but Libya competed with it: these two countries accounted for 28% of total exports. Also, significant deliveries were made to Georgia and Tajikistan (12% and 10% respectively),” the expert said.

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AGRO-INDUSTRIAL GROUP SODRUGESTVO TO GET $10 MLN LOAN FROM EBRD

The European Bank for Reconstruction and Development (EBRD) will issue a $10 million loan to Sodrugestvo agro-industrial group, one of the world’s largest soybean processors. According to information on the bank’s website, the funds will be used to finance working capital for the group’s subsidiaries in Serbia and Ukraine.
In addition, the EBRD is organizing a $80 million loan to finance capital expenditures and working capital for a Sodrugestvo subsidiary in Turkey. It is expected that the EBRD will issue $55 million, and the rest of the loan ($25 million) will be syndicated. The cost of the entire project is estimated at $87.5 million. The funds will be used to partially finance the purchase of a production facility in Izmir (Turkey), upgrade the acquired object and finance working capital to expand activities in Turkey.
According to the bank, the financing will allow the company to expand the supplier base in Ukraine and Serbia and support the purchase of assets in Turkey.
Sodrugestvo Group was founded in 1994. It has headquarters in Luxembourg and over 30 enterprises in 20 countries. The company operates in the regions of Russia, the CIS, Scandinavia, Northern Europe, the Mediterranean region, the Middle East, Central and Latin America.

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